Trial Period Plan Not A Loan Modification Agreement, Judge Rules

Mealey's (September 16, 2021, 2:13 PM EDT) -- PROVIDENCE, R.I. — A federal judge in Rhode Island on Sept. 15 ruled that a mortgage lender did not breach the terms of a mortgage loan agreement by entering into a loan modification agreement with a borrower who fell behind on his loan payments because the lender had agreed only to a trial period plan (TPP) with the borrower before determining that the borrower did not qualify for loan modification....

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